Congress Avoids Fiscal Cliff

Fiscal Cliff

Fiscal Cliff

From
 LeadingAge DC
On Jan. 1, Congress passed the American Taxpayer Relief Act of 2012 (H.R. 8), which avoids the so-called fiscal cliff by: 

• Permanently eliminating an increase in the tax rate for most Americans. 
• Temporarily avoiding steep cuts to domestic and defense spending scheduled to take effect on January 1 (known as sequestration). 
• Preventing a 27% cut in payments to Medicare physicians and implementation of caps on out-patient therapy. 

In addition, the legislation repeals the Community Living Assistance Services and Support (CLASS) Act and creates a Long-Term Care Commission similar to one LeadingAge had supported to address the broad question of how to best provide long-term services and supports.

For more visit www.LeadingAgeNJ.org